Inve India ▾

Azad Engineering share price & results

Azad Engineering Limited· Capital Goods· Industrials

Results to
Jun 2026
Latest analysed call
Q1 FY27
Ownership as of
Sept 2026

Precision manufacturer of mission-critical forged and machined components for aerospace, defence, energy and oil & gas OEMs.

Company research is public. Sign in to keep your own companies, notes and cases.

Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue171 ₹ crore+26.7% YoYQuarterly, as filedQuarter to Jun 2026Revenue from operations as filed.
Operating margin38.0 %+2.0 pts YoYOperating profit / revenueQuarter to Jun 2026For the quarter; a change is in percentage points.
Net profit36.0 ₹ crore+20.0% YoYQuarterly, as filedQuarter to Jun 2026Profit after tax as filed.
Return on equity9.56 %+0.5 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin-114.59 %−62.3 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)29.03 %−2.1 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Jun 2026

Guidance

What management said, and what became of it

3 of 5 judged targets kept · 8 open · verdicts reflect calls analysed to Q1 FY27.

Azad Engineering Limited management guidance track record on Inve: 13 targets tracked across analysed earnings calls (3 achieved, 2 missed, 8 open).

TargetOriginal wordingSaidLatest callVerdict
Product Development (Jet Engine)Deliver it very soon, in a couple of months
Call transcript, Q2 FY26 · 3 Nov 2025		Q2 FY26Q1 FY27:Achieved. Successfully manufactured and delivered India's first indigenous expendable turbojet engine.
Call transcript, Q1 FY27 · 8 Aug 2026		Achieved
Working Capital DaysDrastic change coming to closer to 200 days in H1 FY27, and get down to 160-170 days in H2 FY27.
Call transcript, Q4 FY26 · 16 May 2026		Q4 FY26Q1 FY27:H1 target of ~200 days reiterated; H2 target revised to 160-180 days (from 160-170).
Call transcript, Q1 FY27 · 8 Aug 2026		Diluted
Cash-to-Cash Conversion Cycle170 to 180 days by the end of this financial year (FY26)
Call transcript, Q4 FY25 · 26 May 2025		Q4 FY25Q4 FY26:Missed. Inventory buildup led to elevated working capital. New guidance for FY27 is ~200 days in H1, 160-170 days in H2.
Call transcript, Q4 FY26 · 16 May 2026		Missed

Source: Inve Guidance Tracker for Azad Engineering Limited · to Q1 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

2 of Azad Engineering Limited's 13 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 10 more targets are in the full ledger.

Free account: 5 full ledgers a month and one Inve Case. Pro opens 100 a month, ₹499.
See the full record

Price

₹2,577.5 +1.17% · +₹29.7

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance +54.9% 1Y

₹1.5k₹2.0k₹2.5k₹3.0kOct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26Q2 FY26 — 3 Nov 2025Q3 FY26 — 13 Feb 2026Q4 FY26 — 15 May 2026Q1 FY27 — 7 Aug 2026

1Y: ₹1,663.8 on 24 Oct 2025 → ₹2,577.5. High ₹3,062.6 (6 Oct 2026), low ₹1,366.5 (23 Mar 2026).

Previous close
₹2,547.8
Market cap
₹16.7k Cr
52-week range
₹1,366.5 – ₹3,062.6
One year
+52.96%
Price to earnings (TTM to Jun 2026)
119.22×
Return on equity (TTM to Jun 2026)
9.56%

Overview

Symbol
NSE:AZAD
Industry
Industrials
Exchange
NSE
Currency
INR

What Azad Engineering Limited does

Based on the company's own presentations, annual report and earnings calls.

Azad Engineering designs and manufactures highly-engineered, mission- and life-critical rotating and stationary components — such as airfoils, blades, nozzle vanes and other turbine and aero-engine parts — for gas/steam turbine, aerospace, defence and oil & gas equipment makers. It operates as a Tier-1 precision supplier, earning revenue by qualifying parts to OEM specifications (a multi-year process) and then manufacturing them under long-term supply agreements. The vast majority of output is exported to global OEMs across the Energy & Oil & Gas and Aerospace & Defence verticals.

Segments

  • Energy & Oil & Gas
  • Aerospace & Defence
Manufacturing facilities
Multiple plants at Tunikibollaram Industrial Park, Hyderabad, including four newly inaugurated customer-dedicated lean manufacturing facilities (for Mitsubishi Heavy Industries, GE Vernova, Siemens Energy and Baker Hughes)
Operational manufacturing area
~20,000 sq. m
Manufacturing area under expansion (Phase-1)
~94,899 sq. m
Qualified parts and components
1,700+
Specialised manufacturing processes qualified
45+
Export markets
12 countries including USA, UK, Germany, Japan, Saudi Arabia and Singapore
Founded 2008Headquarters Jeedimetla, Hyderabad, Telangana, IndiaEmployees 1,300 (FY25 (March 2025)) Company website

How the price took the results

close before → close after

Q1 FY27
+2.4%
8 Aug
Q4 FY26
−8.5%
16 May
Q3 FY26
+4.4%
14 Feb
Q2 FY26
−2.4%
3 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Your own record

Start an Inve Case for Azad Engineering Limited

Free account: one company. Everything above stays public.

Write why you follow Azad Engineering Limited and the condition you want checked. Inve compares your numeric conditions with available results and management guidance; your own conditions remain yours to review.

What an account adds

Keep reading

Other Capital Goods companies

All Capital Goods companies → · Capital Goods earnings growth →

Learn to analyse Azad Engineering Limited

Guides on how to read this kind of business and the numbers that matter.